MIT Sloan Management Review Article on Plotting Strategy in a Dynamic World

Companies can no longer rely on traditional forecasting exercises to spot — and capitalize on — emerging threats and opportunities.

To remain competitive over time, a company must be able to move quickly in response to major changes in society, technology, competition, regulation, labor markets, and myriad other areas. Yet the possibility of such changes creates deep uncertainty, making it challenging to identify the most profitable path forward. Although organizations can never be fully prepared for an unanticipated shock, the most resilient ones learn to expect the unexpected, rebound quickly when it occurs, and take advantage of unforeseen opportunities that emerge.

About the Author

David J. Teece is the Thomas W. Tusher Professor in Global Business at the Haas School of Business at the University of California, Berkeley. Paul G. Raspin is a managing director at Stratevolve and a visiting fellow and senior lecturer at the Cranfield School of Management at Cranfield University. David R. Cox is a managing director at Berkeley Research Group.

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